The city of Mumbai, with its busy streets, thriving businesses, presents a wealth of opportunities for entrepreneurs and investors. One such investment opportunity with a potentially high ROI is ATM installation. With a growing population, the requirement for Automated Teller Machines (ATMs) across rural and urban centers is on the rise. If you own a commercial property, you can easily get lucrative returns by renting it out to banks. Investing in ATMs has proven to be a high-income generating source, gaining significant traction among investors. This article will shed light on all the reasons why investing in an ATM space for rent in Mumbai is a hassle-free and safe-renting option!
- High Demand and Footfall
Mumbai is a home to millions of people who travel, work, spend money every day and require easy access to cash. With a dense population and numerous commercial hubs, the demand for ATMs is consistently high. By renting ATM space in strategic locations, you tap into a market that is constantly seeking convenient and accessible cash withdrawal options.
- Steady Revenue Stream
Renting ATM space offers a reliable and steady revenue stream. As an ATM owner, you earn a fee or commission for each transaction made on your machine. With the city's rising economy and the continuous flow of people, your ATM can generate income around the clock, even during non-business hours. This passive income stream can support your earnings and serve as a long-term investment.
- Diversification of Income
Whether you are a newbie or a seasoned investor, you should try investing in different forms. Instead of relying solely on traditional investments or business ventures, having an ATM or multiple ATMs on rent can provide an additional source of revenue. Diversification helps minimize risk and offers greater financial security, especially during economic downturns or fluctuations in other sectors.
- Minimal Operational Responsibility
As the owner of the space, your primary role is to provide a suitable location and ensure proper maintenance of the area surrounding the ATM. The day-to-day operations, cash management, and maintenance of the machine itself are typically handled by the bank or ATM service provider, reducing the burden on you as the investor. You can choose a quality residential property by leading developers like AsmitA India Realty with a reliable reputation in the market. Their projects are situated at prime locations and attract a consistent crowd, making it more profitable for you.
- Long-Term Growth Potential
Continuous urban development in the city provides excellent prospects for long-term growth. As the city expands, more areas are emerging as potential locations for businesses and residential complexes. By securing ATM space in these upcoming areas, you position yourself to benefit from the growing demand for financial services and the rising number of consumers.
How to lease your property for ATM installation:
To rent your property for an ATM, you can visit any public or private sector bank and apply to the branch manager. Once your proposal is reviewed, the bank authorities will visit your property. Once approved, you will be called for further processing. To check if your property is eligible, consider these pointers:
- The property should be in a commercial area or near a developed residential area.
- The surface area must be around 60–100 square feet, and the ceiling must be made of concrete.
- A NOC, or a written application signed by all the residents of the building.
Renting ATM space in Mumbai is a wise move due to the high demand for cash withdrawal facilities despite the emergence of digital payment modes. A major chunk of the population still carries cash in their wallets, which makes ATMs a big investment opportunity. Hence, choose a prime location, a reliable commercial property with high foot traffic, and capitalize on this investment option.